Company Valuation: Aramex

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,003 5,154 3,353 3,221 3,324 2,504 - -
Change - -14.15% -34.94% -3.93% 3.18% -24.67% - -
Enterprise Value (EV) 1 6,544 6,590 4,853 4,582 4,699 3,911 3,737 3,464
Change - 0.7% -26.36% -5.58% 2.55% -16.77% -4.43% -7.31%
P/E 27.3x 31.2x 26x 22.7x 162x 19.3x 34.2x 22.8x
PBR 2.25x 2.05x 1.36x 1.28x 1.3x 0.94x - -
PEG - -1.3x -1.2x 2.2x -1.9x 0x -0.8x 0.5x
Capitalization / Revenue 0.99x 0.87x 0.59x 0.51x 0.52x 0.35x 0.38x 0.36x
EV / Revenue 1.08x 1.11x 0.85x 0.72x 0.74x 0.55x 0.56x 0.5x
EV / EBITDA 9.67x 10.7x 7.71x 7.05x 7.65x 5.43x 6.26x 4.92x
EV / EBIT 21.3x 26.9x 18.2x 15.4x 19.8x 13.7x 14.4x 10.9x
EV / FCF 34.7x 13.5x 12.8x 9.34x 11.7x 22.6x 13.6x 8.43x
FCF Yield 2.88% 7.39% 7.83% 10.7% 8.55% 4.43% 7.33% 11.9%
Dividend per Share 2 0.13 0.13 - - - - - -
Rate of return 3.17% 3.69% - - - - - -
EPS 2 0.15 0.113 0.088 0.097 0.014 0.0885 0.05 0.075
Distribution rate 86.7% 115% - - - - - -
Net sales 1 6,069 5,926 5,694 6,324 6,360 7,122 6,617 6,880
EBITDA 1 676.6 616 629.7 650.3 614 720.5 596.8 704.4
EBIT 1 306.7 245.3 266.7 296.7 237.7 286 259.7 316.8
Net income 1 225.4 165.4 129.3 141.8 20.58 132.5 8.4 45.8
Net Debt 1 541.3 1,436 1,500 1,361 1,375 1,407 1,234 960.4
Reference price 2 4.100 3.520 2.290 2.200 2.270 1.710 1.710 1.710
Nbr of stocks (in thousands) 1,464,100 1,464,100 1,464,100 1,464,100 1,464,100 1,464,100 - -
Announcement Date 10/02/22 09/02/23 08/02/24 11/02/25 10/02/26 - - -
1AED in Million2AED
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.21x0.55x5.41x-.--% 678M
15.6x1.09x7.98x6.97% 79.91B
16.34x0.99x7.26x3.51% 71.47B
13.98x0.86x7.52x1.95% 68.04B
28.97x1.21x10.37x0.58% 43.36B
12.89x9.44x29.11x5.34% 42.91B
25.26x1.18x12.51x3.02% 32.1B
24.37x1.81x17.25x0.83% 24.46B
13.88x0.4x3.95x3% 22.79B
9.96x1.43x5.26x4.24% 14.9B
Average 18.05x 1.90x 10.66x 2.94% 40.06B
Weighted average by Cap. 17.62x 1.96x 10.89x 3.6%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield